Beaumont home sales soar in July

By The Enterprise

Updated 10:32 am, Friday, August 21, 2015

Photo: Jake Daniels

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A new home undergoes construction off Major Drive on Wednesday afternoon. The Beaumont area has seen a sizable amount of growth around Major Drive and the west end.
Photo taken Wednesday 8/5/15
Jake Daniels/The Enterprise less

A new home undergoes construction off Major Drive on Wednesday afternoon. The Beaumont area has seen a sizable amount of growth around Major Drive and the west end.
Photo taken Wednesday 8/5/15
Jake ... more

Photo: Jake Daniels

Beaumont home sales soar in July

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Beaumont home sales rose 29 percent in July as home prices increased, according to the July 2015 Beaumont housing market report released Thursday by the Beaumont Board of Realtors.

"The Beaumont housing market has had an exciting 2015 summer selling season so far," said Vivian Todd, president of the board, in a Thursday news release. "A relatively balanced housing inventory level has allowed home prices to remain stable during the strong summer selling season, creating optimal market conditions for homebuyers."

According to the report, 108 homes were sold in Beaumont in July 2015, a 29 percent jump from the year prior. The median price for Beaumont homes increased 8 percent year-over-year to $148,750 during the same time frame, the report showed.

Additionally, Beaumont's monthly housing inventory was 5.7 months in July 2015, 2.7 months less than the year prior, according to the report.

The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.